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UK stocks open 0.4% stronger as US, China talk trade

UK stocks opened stronger on Friday as trade talks between the US and China ground on, and investors braced for the release of key US jobs data.

At 0856, the benchmark FTSE 100 index was up 32.17 points, or 0.4%, at 7.534.86.

HBSC shed 2.5% after higher investment spending sent its first-quarter profit down 4%. The bank also launched a $2bn share buyback.

British Airways-owner International Consolidated Airlines was having a better morning. Its shares climbed 4.5% as rising passenger volumes contributed to a 75% leap in first-quarter operating profit.

EasyJet was also on a high, gaining 2.1%, as passenger volumes rose 4.7% in April and the budget carrier reduced the proportion of seats left empty on its planes.

InterContinental Hotels, meanwhile, said global revenue per room rose 3.5% in the first quarter, as fears of terrorist attacks subsided in Europe. Its shares gained 0.8%.

Educational publisher Pearson rose 3.7% after it stuck to its full-year earnings guidance amid a 1% rise in first-quarter revenue.

Construction company Morgan Sindall rallied 4.1%, having said it was on track to deliver full-year results 'slightly' ahead of its previous expectations, amid a better-than-expected performance from its fit-outs division.

Packaging group Smurfit Kappa firmed 1.7% after its first-quarter earnings grew by 22%, as a fall in fibre costs helped boost margins.

Numis Corporation said its first-half profit almost doubled following a strong showing from its corporate broking and advisory business. The shares added 0.7%.

National Grid said chief financial officer Andrew Bonfield was leaving the utility to assume a role at a US company that would bring him to be closer to his family. Its shares gained 0.8%. Story provided by Stock Market Wire

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